Delhi HC allows Chinese smartphone maker Vivo to use bank accounts on three conditions
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After refusing any interim relief, the Delhi High Court has allowed the de-freezing of the bank accounts of the Chinese smartphone maker Vivo on conditions. The HC has asked the company to provide a bank guarantee first to access the accounts. The court allowed the de-freezing of Vivo’s bank accounts and operating the same on the condition that Vivo furnishes a bank guarantee of INR 950 Cr and maintains a balance of INR 250 Cr.